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How To Build China's Venture Capital Project Evaluation System

Posted on:2006-02-08Degree:MasterType:Thesis
Country:ChinaCandidate:X H HanFull Text:PDF
GTID:2206360152485769Subject:Technical Economics and Management
Abstract/Summary:PDF Full Text Request
In the course of innovation, venture capital, which is a special financial instrument that offers financial and capital operation supporting for high risking projects, plays an extremely important role. 1,the research purpose of the paper After the studying of the project evaluation system of venture capital in foreign countries, we should ask for a question that ,"Is the foreign evaluation system the most scientific? "It is true that the operation of foreign venture capital is very norm and reliable , especially in the aspects of investment conduct and venture evaluating ,there has been a lot of cases study and demonstration analyzing in these fields, and the theory is quite mature. All these can be a reference to the venture capital project evaluation in our country. But at the same time, We should notice that these evaluating methods used in foreign venture capital are mostly based on the experience summary, most of which are determined the nature by description and have a strong subjectivity, so we should discuss some objectivity evaluating methods. And there are very great differences in the rule of law matched and culture background between the west societies and ours, for example, a lot of R&D departments in our country are independent of the market and manufactory enterprises. There is not enough attention paid to the personal credit degree. So we cannot copy the whole foreign system. We should set up a scientific evaluation system according to the situation of our country. This paper is aimed to establish a set of estimation index system in venture capital, which is suit for the development of VC in China. 2,The thinking pathway of this paper This paper is leaded by such a thinking pathway to establish a set of estimation index system in venture capital, which is suit for China. The paper includes 3 part , Saying from the definition of VC, the first part briefly states the development of VC inner and out of China, and then introduce the characteristic ,type,effect and the whole operation procedure of VC. The second part is mainly about the present status of the study of evaluation system in VC out of China, and ask a question, "Is the foreign evaluation system the most scientific? " the answer to the question derives to the third part: How to establish a set of estimation index system in venture capital which is suit for our country. This part is the key point of the paper. It is on the basis of the conjoint of AHP and the method of Fuzzy Mathematics analysis. First, decompose the target to index layer by layer from top to bottom and then give fuzzy appraise to the index on each layer from bottom to top, finally seek out the integrate score of the invest project.
Keywords/Search Tags:Venture capital, Evaluation index system, The Analytic Hierarchy Process (AHP), Fuzzy mathematics analysis
PDF Full Text Request
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